IPO Details
RHP/DRHPIssue Date
--
Investment/lot
₹ 14980
Price Range
133 - 140
Lot Size
107
IPO Size
₹ 410.05 Cr
IPO Listing Details
Listing On
13 Jan'25
Issue Price
140
Listed Price
₹ 172
Retail Gain/Listing Gain
▲22.86%
Schedule of Standard Glass Lining Technology IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
13/01/2025
About Standard Glass Lining Technology IPO
Standard Glass lining IPO is an IPO of ₹410.05 crores. It consists of an offer for sale of ₹200.05 crores and a fresh issue of ₹210 crores. The shares will be allotted on Jan 09, 2025. The credit of shares to the demat account will take place on Jan 10, 2025 and the initiation of refunds will take place on Jan 10, 2025.
Objective of Standard Glass Lining Technology IPO
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Funding of capital expenditure requirements of the company towards purchase of machinery and equipment
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Repayment or prepayment of certain outstanding borrowings availed by the company and investment in their wholly owned material subsidiary S2 Engineering Industry Private Limited.
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Funding inorganic growth through strategic investments and/or acquisitions
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General corporate purposes
Standard Glass Lining Technology IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | ₹140 |
Existing Shares to be Sold | 1,42,89,367 equity shares aggregating up to ₹200.05 crores |
Fresh Issue | 1,50,00,000 shares aggregating up to ₹210 crores |
EPS (₹) | 3.25 (FY24) |
Standard Glass Lining Technology IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
Retail (Min) | 1 | 107 | ₹14,980 |
Retail (Max) | 13 | 1391 | ₹1,94,740 |
S-HNI (Min) | 14 | 1,498 | ₹2,09,720 |
S-HNI (Max) | 66 | 7,062 | ₹9,88,680 |
Standard Glass Lining Technology Limited IPO Share offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIB Shares Offered | Not more than 50% of the Net Issue |
Retail Shares Offered | Not less than 35% of the Net Issue |
NII (HNI) Shares Offered | Not more than 15% of the Net Isssue |
Industry Outlook
The Glass-Lined Equipment (GLE) industry is poised for significant growth, at 10.1% between 2023 and 2028 driven by multiple factors.
Company Information
Standard Glass Lining Technology Limited is one of the top five specialised engineering equipment manufacturers for pharmaceuticals and chemical sectors in India. The company designs, manufactures, assembles, installs and commissions solutions for pharmaceuticals and chemical manufacturers on a turnkey basis.
Strengths of Standard Glass Lining Technology Limited IPO
Standard Glass Lining Technology Limited is one of the top 5 engineering equipment manufacturers for the Indian pharma and chemical sectors with products across the value chain.
Standard Glass Lining Technology Limited is one of the few companies in India offering end to end customised solutions for specialised engineering equipments used in the pharmaceutical and chemical sectors (Source: F&S Report). As of September 30, 2024, their comprehensive product portfolio consists of more than 65 products and offerings across pharmaceutical and chemical industries.
As of September 30, 2024 their customer base includes 347 companies. They enjoyed long-standing relationships with 13 of their 20 customers. They have also received repeat orders from 80% of their customers.
Risks of Standard Glass Lining IPO
The company is dependent on the proper functioning of its manufacturing facilities, all of which are located in Telangana. Any accidents, natural disasters, adverse changes in the economic or political situation of Telangana will affect their business.
The company is dependent on a limited number of suppliers for raw materials such as stainless steel, nickel alloy, chemicals, etc. The loss of any of these suppliers could hurt their business.
Most of their customers are in the pharmaceutical and chemical business. Factors that affect these businesses or reduction in capital expenditure by these companies can hurt the business.
All Financial Information about Standard Glass Lining Technology
Particulars (in Rs. million)
Particulars (in Rs. million)
Comparison with peers
| Parameter | Standard Glass Lining Technology | GMM PFaudler | HLE Glasscoat |
|---|---|---|---|
Total Income | 5496.81 | 34665 | 9767.36 |
P/E | - | 30.64 | 56.54 |
EPS (Basic) | 3.52 | 39.79 | 6.52 |
Return on Net Worth | 20.74% | 20.23% | 7.99% |
NAV per share | 24.55 | 215.22 | 61.06 |
Anchor Investor bidding date:
The anchor investor bidding will take place on Jan 3, 2025
IPO Registrar and Book Running Lead Managers
Book running lead managers:
IIFL Capital
Motilal Ostwal
Name of the registrar: Kfin Technologies Limited Registrar for the IPO is Link Intime India Private Limited
Business Model
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The company earns its revenue through the following sources:
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The company manufactures reaction systems, storage separation and drying systems, and plant engineering and services.
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They manufacture glass-lined, stainless steel, and nickel alloy based specialised engineering equipment.
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They supply polytetrafluoroethylene lined pipelines and fittings
Company Growth Trajectory
The revenue from operations grew 126% between FY22 and FY24. The PAT also grew by 138% in the same period, thus confirming the company’s status as a fast growing equipment manufacturer.
Company Market Position
Standard Glass Lining Equipment Manufacturer is one of the top 5 companies in the glass lining manufacturing industry. With a strong PAT, growth trajectory and continually increasing revenues, the company will continue to hold a top 5 position in the years to come.
Standard Glass Lining Technology Limited Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Total Income (₹ million) | 2415.02 | 500.76 | 5496.81 |
Profit Before Tax (₹ million) | 337.70 | 718.53 | 798.01 |
Net Profit (₹ million) | 251.45 | 534.24 | 600.11 |
EBITDA (₹ million) | 417.79 | 882.56 | 1009.19 |
EPS (₹) | 2.22 | 3.49 | 3.52 |
Standard Glass Lining Technology Limited Company Balance Sheet
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax | 337.70 | 718.53 | 798.01 |
Net Cash from Operating Activities (₹ million) | (71.49) | 17.51 | (650.27) |
Net Cash from Investing Activities (₹ million) | (297.38) | (290.17) | (1568.34) |
Net Cash from Financing Activities (₹ million) | 369.97 | 325.70 | 2318.95 |
Cash and Cash Equivalents (₹ million) | 1.17 | 54.21 | 154.55 |
How To Check Allotment Status of Standard Glass Lining Technology IPO?
You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar Kfin Technologies Limited. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is Standard Glass Lining Technology Limited
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the Kfin Technologies Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Standard Glass Lining Technology Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
Standard Glass Lining Technology IPO FAQs
When is Standard Glass Lining Technology IPO listing date?
Standard Glass Lining Technology IPO will list on 2025-01-13.
What is the issue size of Standard Glass Lining Technology IPO?
410.05 is the issue size of Standard Glass Lining Technology IPO.
What is the minimum lot size required for Standard Glass Lining Technology IPO?
The minimum lot size is 107 shares and the investment required is ₹14980.
What is the price band of the Standard Glass Lining Technology IPO?
The price band of Standard Glass Lining Technology IPO is ₹133 to ₹140.
Where can I read more about Standard Glass Lining Technology business?
You can read more about Standard Glass Lining Technology and its IPO from the company’s red herring prospectus (RHP) here.
What is the Standard Glass Lining Technology IPO?
The Standard Glass Lining Technology IPO has an issue size of ₹410.05 crores. The IPO opens for subscription on 06/01/2025 and closes on 08/01/2025.
Who is the Registrar for Standard Glass Lining Technology IPO?
Kfin Technologies Limited is the registrar for this IPO.
